Much followed Altcoin analyst Sherpa has posted predictions on Twitter for Ethereum (ETH) and two other altcoins. He started by stating that he believes Ethereum has more potential to rise despite nearly doubling its value in less than two months. He tweeted the following :
$ETH: I expect #Ethereum to make its way up to 2200 eventually in the mid term but we’ll see if it can break past this current S/R level. The longer this grinds around here, the more bullish I am in the short/mid term. Still dont think this is ‘the bottom’ though. $ETHUSD pic.twitter.com/25j4cJa0WJ
— Altcoin Sherpa (@AltcoinSherpa) July 29, 2022
“I expected Ethereum to rise to USD 2,200 in the medium term, but we will see if it can get past this current support/resistance level ($1,720)b around here, the more optimistic I am on the short/medium term. Still don’t think this is the bottom.”
Next on the analyst’s radar is the popular blockchain-based game Axie Infinity has room to unleash a relief rally. Still, he remains cautious about whether AXS can hit his massive target. He said the following:
“What do we think of these kinds of ideas? I don’t know if it has the strength to go to $40, but I could see some bear market rally if BTC is ok.”
The last altcoin to keep the trader’s eye is the low-cap altcoin LOOKS, the native asset of the non-fungible token marketplace LooksRare. Altcoin Sherpa predicts a 50% rally for LOOKS as long as Bitcoin (BTC) remains relatively stable:
“LOOKS: some interesting price promotion; the exponential moving averages at the four hours all clump together, and the price goes back and forth. I think this still looks good. It would not surprise me to see 50%+ id BTC holds up.”
